Chrysler sales up 27% – Best October since 2007

Chrysler Group LLC today reported U.S. sales of 114,512, a 27 percent increase compared with sales in October 2010 (90,137 units), and the best October sales since 2007. The results were slightly below the 27.7 percent volume forecast by industry analysts, but almost exactly the prediction based on daily sales rate, which was 32 percent.
Chrysler Group’s 27 percent sales increase was driven by retail sales that were up 40 percent in October. Chrysler Group has beaten the average industry sales increase in nine of 10 months this year.
“In what is turning out to be a strong new vehicle sales industry we continued to outperform,” said Reid Bigland, President and CEO – Dodge Brand and Head of U.S. Sales. “For October, our retail sales increased 40 percent year-over-year with sales of the Chrysler 300 more than doubling and Jeep Compass sales increasing fivefold. The month of October also marked our 19th-consecutive month of year-over-year sales gains.”
Models that significantly contributed to the group’s 27 percent increase in total sales (retail and fleet) were the Chrysler 200, Jeep Compass and Liberty, Dodge Journey, Dodge Avenger, and the Ram pickup.
The Chrysler, Jeep, Dodge, and Ram Truck brands all posted sales increases in October. The Chrysler brand’s 28 percent sales increase was the largest percentage gain of all the Chrysler Group brands. It was Chrysler brand’s best October since 2007.
Chrysler Group finished the month with a 68-day supply of inventory (299,896 units). U.S. industry sales figures for October are projected at an estimated 13.5 million SAAR.
Chrysler Highlights: Chrysler’s 28 percent sales increase in October represented the largest percentage increase of any Chrysler Group brand and its best October since 2007. Sales of the Chrysler 200 increased 405 percent in October compared with sales of the Sebring the same month a year ago.
Dodge Highlights: Dodge posted a 25 percent sales increase in October compared with the same month in 2010. Avenger sales jumped 145 percent last month. The Journey finished the month 36 percent ahead of last year.
Jeep Highlights: Jeep brand sales were up 25 percent in October, the brand’s best October sales performance since 2006 and its 18th-consecutive month of year-over-year sales gains. The new Jeep Compass posted a heady 566 percent sales increase in October, setting an all-time monthly sales record with 5,179 units sold. The Compass’ 566 percent increase was by far the largest year-over-year percentage sales gain of any Chrysler Group model in October.
Wrangler set a sales record for the month of October, the SUV’s fifth-consecutive monthly record this year. Wrangler and Liberty each posted double-digit percentage sales increases in October.
Ram Highlights: Ram pickup truck sales were up 21 percent, making last month the best October since 2007. Both the Light Duty and Heavy Duty pickup models posted sales gains for the month.